One Area University Generates Over $445 Million In Economic Impact Each Year
Winona, MN (KROC AM News) - One area University generates over $445 million in economic impact each year, according to a recent study assessing the economic contributions of the seven state universities and 30 state colleges in the Minnesota State System.
Winona State University generates $447.8 million in economic impact each year, and WSU President Scott R. Olson was very proud to report the numbers and the impact the University has on the community.
“It’s gratifying to see that our community of learners is improving our world to such a great extent,” Olson said.
According to the study, WSU supports and sustains 3,465 jobs, including direct employment by the university, as well as indirect and induced jobs created by supply and equipment vendors, contractors, and laborers for the construction and renovation of facilities, and jobs created in the community at hotels, restaurants, and retail stores in support of the Winona State’s faculty, staff, students, and visitors.
The study also calculated the tax revenues generated by WSU's level of economic activity, including sales, property, personal income, and corporate income taxes, and concluded that WSU generates about $24.2 million in tax revenues for state and local government—nearly 70 percent of the total state and local tax revenue generated by the Minnesota State system in the Southeast region.